Top ten finalists for think incubator’s second cohort in the running for investment and incubation from Tigo and its parent company Milicom at the state-of-the-art think incubation site have today been announced.
The selected finalists will build on success of think’s first cohort compromised of Rwandan company TorQue and Nigerian company Cribpark, who both received investment, access to key networks, assessment of growth and office space.
Think received highly qualified applications from 14 countries, and the finalists represent six African nations: Rwanda, Burundi, Kenya, Nigeria, South Africa, and Uganda, as well as the US. A committee of top tech investors, including executives from Millicom, Tigo Rwanda, the African Entrepreneur Collective, and leading regional tech entrepreneurs, are in the process of selecting up to 5 companies.
The chosen businesses will jointhink in May, receiving $15,000 in equity investment, strategic consulting services, and a tailored growth-training curriculum, as well as access to Tigo resources and global tech mentors.
The think top 10 include early stage companies that provide a variety of IT Solutions, addressing diverse consumer needs throughout Africa, with an ability to scale rapidly:
Product: A bitcoin exchange for merchants and individuals, using mobile money to exchange local currencies with bitcoins.
Get It, Rwanda
Product: Text-to-order sales and distribution platform delivering household items to last-mile consumers.
Product: Web platform that connects a local community of freelancers to those who need small projects completed.
Howxit, South Africa
Product: A mobile app for real-time communication via text, voice and video.
Malaika Travel & Tours, Rwanda
Product: A travel app designed to crowd-share rides and excess luggage allowances.
Product: A mobile application that allows Rwandan migrants to pay airtime, tuition fees, and utility bills efficiently.
Product: An interactive online mentorship platform, connecting young African entrepreneurs to those around the globe
Product: A multi-function, adaptable mobile payment platform, leveraging patented M-PAY technologies.
The Exchange Visionary Labs, United States
Product: Contact lenses that display an augmented reality. Think 3D Google glass.
Product: A mobile platform incentivizing people to eat out, go out, and hang out more often.
Tongai Maramba, General Manager of Tigo Rwanda, said: “We are excited about the promising top 10 finalists. Investing in the final selected companies from among this group is a hallmark of Tigo’s commitment to innovation and to growing the IT startup environment across Africa.”